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The aim of this paper is to consider and evaluate the widely–used argument attributing the growth of the public debt of Greece in recent decades to the country’s defence expenditure. We employ a two-equation model that focuses on the determinants of the military debt and how this has affected the public debt. The source of our military debt data is the Hellenic General Accounting Office, an option taken to cope with confidentiality issues. Finally, we insist on focusing on the expenditure on defence equipment imports rather than the total defence spending that the literature mostly covers, for reasons extensively analysed. Our methodology firstly assumes a linear relationship between military debt and public debt. We solve the system using 3SLS to obtain consistent and efficient estimates to derive interesting policy implications. The employment of a non-linear quadratic form not previously adopted proves to be superior in terms of performance and reveals the complexity of the above relationship. These point to the conclusion that the defence equipment purchases made since the beginning of the eighties have not had a decisive impact on the public debt of Greece. The defence equipment purchases made since the beginning of the eighties represent a very low percentage of the total public debt of Greece. Moreover, these are considered to be an investment activity rather than consumer spending, which has been acknowledged in the literature as the primary cause of Greece’s high indebtedness and the ensuing economic crisis.

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The complex relationships of economic actors and the high dependency on information and communication technologies make it necessary for all relevant entities to develop protection. This protection should include preventive and reactive controls in a risk-proportionate manner in relation to the business value protected. We aimed to develop a solution to support cybersecurity-related business decisions with financial analytics. The risk-based approach helps management find the optimum solution with minimal costs, where protection prevents some incidents from occurring, while the risks associated with other incidents are accepted in an informed way. The security industry developed a number of apparatuses to find the optimum security controls that enforced the fiscal aspects, which typically contain solutions used in planning. However, the actual expenditure often differs from the planned budget for several reasons, one of which is the occurrence of security incidents. We used the common methodology toolset for financial analysis (NPV, NFV, risk assessment). We developed novel metrics based on these that can be used in cybersecurity management. Within the framework thus defined, the article discusses the economic context of the effects of incidents involving Meta (previously Facebook) services from 2016 to 2020. This paper introduces the ‘Effect of incidents’ metric to measure the impact of unplanned incidents’ on actual expenditure compared to the planned budget and the ‘Incidence of incident recognition’ metric to measure deviations of an incident’s impact as perceived by owners relative to the effect on the value of the assets. The paper also proves the applicability of those metrics using the example of Meta.

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The restoration of historical transport routes and the creation of new ones is a strategic objective of most states in modern times. Located at the intersection of the North–South and East–West transport routes, Azerbaijan is currently recognised as an important transport and logistics hub. Successful cooperation with European Union countries in this field is taking place. The East–West and North–South international transport routes passing through the territory of Azerbaijan are very convenient for cargo transportation in terms of distance and duration. This paper discusses the plausibility of the Zangezur corridor being used (which is mentioned in the tripartite agreement that dates back to 10 November 2020) and highlights its importance as an integral element of the global transit route. A comparative analysis of different transit routes was carried out, and the advantages of opening this corridor for all stakeholders was justified.

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This paper takes a comprehensive look at the current state of army aviation attack helicopter squadrons of the Polish Armed Forces. The aim of the article is to present a concept for the functioning of the attack reconnaissance squadrons of the Polish Armed Forces, which takes into account the identified requirements of the Land Forces of the Polish Armed Forces in relation to army aviation on the battlefield and the current limitations in the functioning of the attack helicopter squadrons of the Polish Armed Forces. To meet this aim, qualitative research included interviewing, observation and the collection and qualitative analysis of texts and documents. The study revealed that it is necessary to organise attack-reconnaissance squadrons with a modular organisational structure including: a headquarters, a command company, three attack-reconnaissance companies, an aviation maintenance company and a supply company, capable of conducting autonomous operations in independent directions (areas). The squadrons should be equipped with new attack-reconnaissance helicopters and unmanned aerial vehicles as well as equipment for their technical and logistical support that will be part of their individual subunits. The results of the research are the basis for further, in-depth research on the issue of improving the functioning of attack helicopter squadrons, so that they are fully capable of supporting the land forces of the Polish Armed Forces in large scale combat operations.